Mastercard has collaborated with Boost to provide digital payment wallets and embedded supply chain finance to empower and expand small businesses in the Fast-Moving Consumer Goods sector in Africa. The firms stated that the partnership aimed to provide support to distributors, wholesalers, and retailers in the FMCG sector. They said the players would be provided with Boost’s platform as a service to access essential working capital and Mastercard’s acceptance solutions. “By digitising payments and creating a track record for their transactions, we will enable more MSMEs to access credit facilities and scale their businesses. Through the delivery of integrated digital payment solutions and supply chain finance, we believe we are empowering MSMEs with essential tools to not only survive but thrive.

Source: Punch February 05, 2024 07:41 UTC